Jeffrey Geller is a Chief Investment Officer of Multi-Asset Solutions. As head of the New York team, he has investment oversight responsibility for all accounts managed by the group. Jeff is also a portfolio manager for less constrained multi-asset class portfolios as well as portfolios with alternatives exposure. Before joining J.P. Morgan in 2006, Jeff was director of Hedge Fund Investments at Russell Investment Group where he served as chairman of Russell's hedge fund investment committee. Prior to that, Jeff was a senior partner at BEA Associates (Credit Suisse Asset Management). Jeff earned a B.A. in Government from Clark University and an M.B.A. in Finance from the University of Chicago Graduate School of Business and is a CFA charterholder.

Anne Lester is a portfolio manager and Head of Retirement Solutions for J.P. Morgan Asset Management's Global Investment Management Solutions where she is responsible for advancing the firm's market-leading retirement investment product offering and thought leadership. Ms. Lester has also been responsible for the development of the firm's defined contribution asset allocation strategies including the JPMorgan SmartRetirement target date funds and the firm’s Dynamic Withdrawal strategy. She is also a member of the portfolio management team of the JPMorgan Income Builder Fund. Prior to joining the firm in 1992, Anne was awarded a Fulbright Scholarship in 1990 and spent over a year in Tokyo, working for a member of the Japanese Parliament. Previously, she worked for the Senate Governmental Affairs Committee.

Education

B.A., Politics, Princeton University

M.A., International Economics and Japan Studies, Johns Hopkins University School for Advanced International Studies

Daniel Oldroyd is a portfolio manager and the Head of Target Date Strategies for Multi-Asset Solutions. Dan is responsible for the management of the J.P. Morgan SmartRetirement target-date funds as well as custom target date fund strategies and portfolios. In addition, he leads a team of Client Portfolio Managers responsible for the management and client service of the SmartRetirement suite. An employee since 2000, Dan has held several positions prior to his current role, including investment strategist and manager research of non-proprietary investment managers for J.P. Morgan Retirement Plan Services. He earned a Bachelor of Science in Finance and International Business from Georgetown University and is a CFA charterholder as well as a CAIA charterholder.

Michael Schoenhaut is a portfolio manager on J.P. Morgan Asset Management’s Multi-Asset Solutions team based in New York. Michael, an employee since 1997, is primarily responsible for portfolio construction, manager selection and the interpretation and implementation of the team’s asset allocation views in their multi-asset portfolios. He manages a global suite of multi-asset income funds, the SmartRetirement target date funds, and traditional balanced strategies. Michael obtained a B.S. in Operations Research and Industrial Engineering from Cornell University and is a CFA charterholder.

Eric Bernbaum is a portfolio manager for J.P. Morgan Asset Management's Multi-Asset Solutions team based in New York. An employee since 2008, Eric is responsible for manager selection and portfolio construction. He focuses on portfolio management and the interpretation and implementation of tactical asset allocation strategy across multi-asset class portfolios, with a specific focus on outcome-oriented strategies, including target date, income, and total return. Eric obtained a B.S. in Applied Economics and Management from Cornell University and is a CFA charterholder.

The Fund is not a complete retirement program and there is no guarantee that the Fund will provide sufficient retirement income to an investor.

The JPMorgan SmartRetirement Funds are target date funds with the target date being the approximate date when investors plan to start withdrawing their money. Generally, the asset allocation of each Fund will change on an annual basis with the asset allocation becoming more conservative as the Fund nears the target retirement date. The principal value of the Fund(s) is not guaranteed at any time, including at the target date.

To achieve its strategy, the Fund may invest in other underlying collective trust funds and exchange-traded funds, so the Fund's investment performance is directly related to the performance of the underlying funds. The investment objective of an underlying funds may differ from, and an underlying funds may have different risks than, the Fund. There is no assurance that the underlying funds will achieve their investment objectives. International investing involves increased risk and volatility due to possibilities of currency exchange rate volatility, political, social or economic instability, foreign taxation and differences in auditing and other financial standards. The Fund may invest a portion of its securities in small-cap stocks. Small-capitalization funds typically carry more risk than stock funds investing in well-established "blue-chip" companies since smaller companies generally have a higher risk of failure. Historically, smaller companies' stock has experienced a greater degree of market volatility than the average stock. The Fund may invest in securities that are below investment grade (i.e., "high yield" or "junk bonds") that are generally rated in the fifth or lower rating categories of Standard & Poor's and Moody's Investors Service. Although these securities tend to provide higher yields than higher-rated securities, there is a greater risk that the Fund's share price will decline.

There may be additional fees or expenses associated with investing in a Fund of Funds strategy.

Real estate investing may be subject to a higher degree of market risk because of concentration in a specific industry, sector or geographical sector. Real estate investing may be subject to risks including, but not limited to, declines in the value of real estate, risks related to general and economic conditions, changes in the value of the underlying property owned by the trust and defaults by borrower.

The underlying funds may use derivatives, which are instruments that have a value based on another instrument, exchange rate or index. In addition, the Fund may invest directly in derivatives. Derivatives may be riskier than other types of investments because they may be more sensitive to changes in economic and market conditions and could result in losses that significantly exceed the Fund's or the underlying Funds' original investments. Many derivatives will give rise to a form of leverage. As a result, the Fund or an underlying fund may be more volatile than if the Fund or the underlying Fund had not been leveraged because the leverage tends to exaggerate the effect of any increase or decrease in the value of the Fund's or the underlying Fund's portfolio securities. Derivatives are also subject to the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index. The use of derivatives for hedging or risk management purposes or to increase income or gain may not be successful, resulting in losses, and the cost of such strategies may reduce the Fund's or the underlying funds' returns. Derivatives also expose the Fund or the underlying funds to the credit risk of the derivative counterparty.

Asset allocation/diversification does not guarantee investment returns and does not eliminate the risk of loss.

Investors should carefully consider the investment objectives, risks, charges and expenses of the J.P. Morgan Funds. This and other important information is contained in the prospectus, which can be obtained from your financial professional and should be read carefully before investing.

Opinions and statements of financial market trends that are based on current market conditions constitute our judgment and are subject to change without notice. We believe the information provided here is reliable but should not be assumed to be accurate or complete. The views and strategies described may not be suitable for all investors.

J.P. Morgan Funds are distributed by JPMorgan Distribution Services, Inc., which is an affiliate of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. JPMorgan Distribution Services, Inc. is a member of FINRA/SIPC.